Alpha Bank and Swiss Franc Mortgages!

General questions & discussions on Cyprus property related matters
Nigel Howarth
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Re: Alpha Bank and Swiss Franc Mortgages!

Post by Nigel Howarth »

Hi HBoss and welcome to the forum,

I've just emailed you the list of the CHF mortgage groups.

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Nigel Howarth
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cowboy
Posts: 1
Joined: 04 Jan 2013 03:06

Re: Alpha Bank and Swiss Franc Mortgages!

Post by cowboy »

Hi Nigel,

I am also entangled in this mess! could you please send me this list of groups

Thanks

Cowboy
Nigel Howarth
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Re: Alpha Bank and Swiss Franc Mortgages!

Post by Nigel Howarth »

cowboy wrote:could you please send me this list of groups
It's on its way to you.

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Nigel Howarth
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azwad
Posts: 2
Joined: 13 Jan 2009 18:23

Re: Alpha Bank and Swiss Franc Mortgages!

Post by azwad »

Hi Nigel, this is a very informative forum, thank you. I too have a Swiss Franc mortgage, please would you forward me the details of whom I can contact for further advice/info. I have noticed that Alpha Bank are being addressed, however my mortgage is with Bank of Cyprus and I believe I was mislead/mis-sold regarding power of attorney, loan payments/interest changes. Also with the current ongoings and situation do you think that there will be any implications regarding people owing money for mortgage loans to Bank of Cyprus? One further question I have is, the property I have bought is with Prospecta Development back in Apr 07 and I have still not received my title deeds, Prospecta have just told me that this is normal, however they did originally tell me that I would get them in 2 or 3 years, should I be worried? Many thanks.
Nigel Howarth
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Re: Alpha Bank and Swiss Franc Mortgages!

Post by Nigel Howarth »

Hi azwad

I have just sent you an email.

Rgds,
Nigel Howarth
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JAS
Posts: 1
Joined: 04 Apr 2013 15:33

Re: Alpha Bank and Swiss Franc Mortgages!

Post by JAS »

Hi Nigel,
I'm looking for information too as I took out a Alpha Bank CHF mortgage in 2008

Regards

John
Nigel Howarth
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Re: Alpha Bank and Swiss Franc Mortgages!

Post by Nigel Howarth »

Hi John and welcome to the forum.

I have just email you a list of various groups negotiating and taking action against the banks.

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Nigel Howarth
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pamouse
Posts: 1
Joined: 08 Apr 2013 11:20

Alpha Bank and Swiss Franc Mortgages!

Post by pamouse »

Hi Nigel

I wonder if I could also ask if you can send me details about
the people that will help with the swiss franc (GPB/CHF) mortgage problem.

Thank you for your help.

Paul
andy0101
Posts: 33
Joined: 11 Jul 2010 12:02

Re: Alpha Bank and Swiss Franc Mortgages!

Post by andy0101 »

Hi Nigel

I know you have been asked this a lot on this thread could you also send me the details

Regards

Andy
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Re: Alpha Bank and Swiss Franc Mortgages!

Post by Nigel Howarth »

Hi Andy & Paul,

I have 'PMed' you the names & contact details of the groups.

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Nigel Howarth
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Wrinklymel
Posts: 3
Joined: 09 Apr 2013 15:49

Re: Alpha Bank and Swiss Franc Mortgages!

Post by Wrinklymel »

Hi Nigel,

I'd appreciate it if you could PM me the list of groups also,

Thanks,

Mel
Nigel Howarth
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Re: Alpha Bank and Swiss Franc Mortgages!

Post by Nigel Howarth »

Wrinklymel wrote:I'd appreciate it if you could PM me the list of groups also,
On its way.

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Nigel Howarth
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shba
Posts: 2
Joined: 09 Apr 2013 23:02

Re: Alpha Bank and Swiss Franc Mortgages!

Post by shba »

Hi Nigel

We’ve recently been introduced to your website by friends who also own property in Cyprus. And what a fantastic resource it is, thank you!

We too have an Alpha Bank CHF (Flexihome) mortgage on a property purchased privately with title deeds in October 2008. At that time it was advised that the CHF mortgage offered a favourable interest rate and like many other property owners, we weren’t aware of the inherent risks associated with exchange rate fluctuations.

Our monthly mortgage repayment is set to increase in October to include a ‘repayment’ element, following 5 years of interest-only payments. Anyhow, in the absence of being aware of the various action groups in place, we were thinking of writing to AB to ask about options to convert our loan (ideally based on the € to CHF exchange rate that prevailed when we completed on the property!) to a stable currency in order to minimise future risk and indeed understand what our total amount payable will be over the term.

Would you suggest that direct contact with AB is our first step or do you think contact via one of the action groups is likely to hail more success?

Also, one further question that you might be able to help with –

Our Flexihome loan mortgage agreement outlines payments for

· 1st 60 instalments @ CHF x
· Next 60 instalments @ CHF x
· Next 59 instalments @ CHF x
· The 180th instalment @ CHF x (known as a ‘bullet’ payment which I understand is effectively the balance)

Expecting the loan to run for 25 years, in 2008 we were told that the Central Bank doesn’t allow agreements to state 25 years, instead a period of only 15 years is specified knowing that the agreement will run for 25 years. In my mind at that time, I hoped that in 15 years time we would have sufficient funds to pay the lump sum/balance due, but now we’re not so sure given the current economical climate. If we are not able to pay the lump sum/balance at our 180th instalment, presumably it would be payable in monthly instalments?

Many thanks,
Sharon
Nigel Howarth
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Re: Alpha Bank and Swiss Franc Mortgages!

Post by Nigel Howarth »

Hi Sharon and welcome to the forum.

I have just sent you a list of various groups involved in helping those with Swiss Franc mortgages.

Regards,
Nigel Howarth
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SCH1963
Posts: 1
Joined: 09 Apr 2013 23:33

Re: Alpha Bank and Swiss Franc Mortgages!

Post by SCH1963 »

Hi Nigel,

It would appear that there are many of us in this Swiss Franc Mortgage situation, please would you kindly forward any information on who may be able to assist.

Many thanks,

Scott
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